Wealth Enhancement Advisory Services LLC Raises Position in Kellanova (NYSE:K)

Wealth Enhancement Advisory Services LLC increased its position in shares of Kellanova (NYSE:K) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,227 shares of the company’s stock after purchasing an additional 308 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Kellanova were worth $1,229,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its position in shares of Kellanova by 52.9% during the 4th quarter. Nordea Investment Management AB now owns 33,434 shares of the company’s stock worth $2,704,000 after purchasing an additional 11,561 shares in the last quarter. General Partner Inc. purchased a new stake in Kellanova during the fourth quarter worth about $145,000. GAMMA Investing LLC grew its position in Kellanova by 10.3% during the fourth quarter. GAMMA Investing LLC now owns 6,703 shares of the company’s stock worth $543,000 after buying an additional 626 shares during the period. Principal Financial Group Inc. increased its holdings in Kellanova by 6.9% in the third quarter. Principal Financial Group Inc. now owns 373,792 shares of the company’s stock valued at $30,169,000 after buying an additional 24,067 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its position in shares of Kellanova by 0.6% during the 3rd quarter. Retirement Systems of Alabama now owns 58,422 shares of the company’s stock valued at $4,715,000 after acquiring an additional 351 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.

Insider Activity

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $80.76, for a total transaction of $9,253,723.08. Following the completion of the transaction, the insider now owns 49,680,774 shares of the company’s stock, valued at approximately $4,012,219,308.24. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 1,031,247 shares of company stock valued at $83,509,236 over the last quarter. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on K. Argus cut Kellanova from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. StockNews.com began coverage on Kellanova in a report on Wednesday. They issued a “hold” rating on the stock. Finally, BNP Paribas downgraded Kellanova from an “outperform” rating to a “neutral” rating and set a $83.00 price target for the company. in a research note on Friday, November 1st. Fifteen analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $76.35.

Kellanova Price Performance

NYSE:K opened at $81.24 on Thursday. The firm has a market cap of $28.00 billion, a price-to-earnings ratio of 27.92, a price-to-earnings-growth ratio of 2.59 and a beta of 0.37. Kellanova has a 12-month low of $52.46 and a 12-month high of $81.58. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The company’s 50-day moving average is $80.92 and its two-hundred day moving average is $76.17.

Kellanova (NYSE:K) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.16 billion. Kellanova had a net margin of 7.85% and a return on equity of 37.05%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.03 earnings per share. Research analysts expect that Kellanova will post 3.74 EPS for the current year.

Kellanova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend was Monday, December 2nd. Kellanova’s dividend payout ratio (DPR) is 78.35%.

Kellanova Profile

Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods in North America, Europe, Latin America, the Asia Pacific, the Middle East, Australia, and Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.